Taking Your Spouse on a Business Trip? Can You Write Off the Costs?
A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit […]
What’s the Best Accounting Method Route for Business Tax Purposes?
Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. […]
9 Tax Considerations if you’re Starting a Business as a Sole Proprietor
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need […]
Update on IRS Efforts to Combat Questionable ERTC Claims
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling […]
Should Your Business Offer the New Emergency Savings Accounts to Employees?
As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and the provision […]
Tax-Favored Qualified Small Business Corporation Status Could Help Your Thrive
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea.
Tax-free treatment […]
Does Your Business Have Employees Who Get Tips? You May Qualify for a Tax Credit
If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social […]
Defer a Current Tax Bill with a Like-Kind Exchange
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the […]
Treasury and IRS Issue Guidance on the Qualified Alternative Fuel Vehicle Refueling Property Credit
As reported via IR-2024-16 on 1/19/2024
The Internal Revenue Service and the Department of the Treasury today issued
FinCEN Alerts BOI Reporting Companies to Fraud Attempts
As the Financial Crimes Enforcement Network (FinCEN) opens its beneficial ownership information (BOI) reporting portal, its BOI webpage, reflects a fraud alert for individuals and […]
